Turkey’s March industrial production rises 4.7% y/y

By bne IntelliNews May 8, 2015

On a calendar-adjusted basis, Turkey’s industrial production rose 4.7% y/y in March (market forecast: 0.9% y/y), after increasing 0.9% y/y in the previous month, data of the statistics office TUIK showed on May 8.

Durable consumer goods production was up 1.6% y/y, energy output rose 1.5% y/y, capital goods production increased 3.2% and manufacturing production showed a 2.5% y/y rise in the month.

Industrial production increased 2.2% m/m in March, following a 1.8% m/m rise recorded in February on a calendar and seasonally adjusted basis.

On an unadjusted basis, Turkey’s industrial production increased a robust 4.8% y/y in the month (market forecast: 2% y/y) after rising 0.9% y/y in February and contracting 2.2% y/y in January.

The central bank said in April that Q1 data pointed to a relatively weak outlook for economic activity. This slowdown was largely due to the weak external demand, volatility in financial markets and adverse weather conditions, said the bank, adding that economic activity is expected to grow gradually and moderately from the second quarter onwards, downside risks remain important.

Industrial Production by main Industrial Groups (March)    
(%) Calendar Adjusted Seasonally & Calendar Adjusted
  (y/y) (m/m)
Total Industry 4.7 2.2
Intermediate Goods -0.9 1.2
Durable Consumer Goods 3.6 1.6
Non-durable Consumer Goods 7.2 3.6
Energy 2.7 1.5
Capital Goods 15.9 3.2
Source: tuik

Related Articles

Poroshenko officially nominates Smolii for post of Ukraine central bank governor

Ukrainian President Petro Poroshenko has nominated Yakiv Smolii, the acting head of National Bank of Ukraine (NBU), as a candidate for the post of governor to replace the outgoing governor ... more

Moody’s raises Mongolia’s long-term issuer and senior unsecured ratings to ‘B3’ with stable outlooks

Moody's Investors Service on January 18 raised Mongolia's long-term issuer ratings and senior unsecured ratings from Caa1 to B3 with stable outlooks. The ... more

Azerbaijan's IBA sees assets fall 29% y/y in 2017 after debt restructuring

The assets of the International Bank of Azerbaijan (IBA), the largest lender in the country, contracted by 28.9% y/y to AZN8.7bn ($5.1bn) in 2017, the state-controlled bank reported on January 10. ... ... more